United States tariffs on China: Trump administration adds $16 billion

08/08/2018

The Semiconductor Industry Association said in a statement that tariffs imposed on semiconductors imported from China will hurt American chipmakers rather than Chinese firms. The new list covers products ranging from motorcycles to steam turbines and railway cars. China has vowed to retaliate to an equal degree.

China's exports soared in July, showing little impact from U.S. tariffs, as Washington finalises more duties on Chinese imports.

In a statement, the Chinese Commerce Ministry charged that the United States "once again put domestic law above worldwide law by imposing "very unreasonable" new tariffs on Chinese goods". At that time, Beijing threatened a 25 percent tariff on US crude imports, although it did not issue a specific date for the move.

Trade tensions between the United States and China have been intensifying over recent months with each country imposing levies on mutual imports with extra duties.

This latest round makes good on the president's promise in June to impose a 25% tariff on $50 billion in Chinese goods.

USTR is conducting a public comment period for those tariffs, which could reach 25 percent, due to end September 5. US President Donald Trump accused Beijing of "being vicious" on trade, stressing that Chinese measures were targeting US farmers on objective.

Sales to the USA rose by 13.3%, while China's surplus with the States shrank marginally to $28.1bn (£21.7bn) last month from a record $29bn (£22.4bn) in June.

China's exports growth unexpectedly accelerated in July despite fresh USA tariffs, while its trade surplus with the United States remained near record highs as Beijing and Washington ramped up a bitter dispute that has rattled financial markets. But it was 11% higher than in the same month previous year. While there's no major risk of the world lapsing into "damaging stagflation", the possibility remains of a "bigger blow-up" that sharply reduces trade, as in the 1930s, it said. Chinese imports worth $34 billion would be subject to the new 25% tariff as of July 6, with another $16 billion worth of imports subject to the tariff at a later date.China retaliateswith an equivalent set of tariffs. At the weekend, Trump said he had the upper hand in the trade war, while Beijing responded through state media by saying it was ready to endure the economic fallout. After Liu visited Washington later that month, the nations released a joint statement pledging to reduce the USA trade deficit with China, among other things. Washington has long criticised China's trade surplus with the United States and has demanded Beijing cut it.

Related News:

The transition from Annadurai to Karunanidhi is a rallying point not just for the DMK, but also for the state's politics. On Sunday, President Ramnath Kovind visited the former Chief Minister at the hospital and wished him speedy recovery.

In Shasta County, the Carr fire located near Redding, California has burned entire neighborhoods and forced thousands to flee. Authorities say twin blazes rapidly spreading in Northern California have become the state's largest wildfire in history.

He said officials have essentially ruled out a collision with another aircraft or hitting an obstacle such as a wire. The aircraft crashed about 2540m above sea level, on the western side of a 3000m peak called Piz Segnas.

At a closed session of the United Nations, US Ambassador Nikki Haley blamed today's attack on the Saudi-led coalition. Rebel-run media outlets accused the Saudi-led coalition of carrying out the attacks in Hodeida.

Rouhani, who has denounced Trump's decision to quit the accord, is expected to address his nation later on Monday. Severe reporting restrictions have made it impossible to verify the swirl of claims coming through social media.

The man jumped out of the way and did not appear to be injured by the bison as they go their separate ways in the video. Dan Wenk Park Superintendent had this to say after watching the viral video clip.

The Ohio Senate unanimously approved a bill earlier this year that made the three-day sales tax holiday permanent. In Wake County, according to a table from the state Department of Revenue, the total sales tax is 7.25 percent.

West Texas Intermediate ( WTI) crude futures were at $68.87 per barrel at 0647 GMT, down 9 cents from their last settlement. West Texas Intermediate, the USA benchmark for the price of oil, was down 0.1 percent to $68.89 per barrel.

But the best laugh was reserved for the man who conducted the LeBron interview, suffering the worst of Trump's Twitter jab. When asked what he would say to Trump if they were to sit face-to-face, James said, "I would never sit across from him".

Sarri 'very confident' Willian set for Chelsea stay
Bournemouth will be hoping to wrap up the signing of Colombian defensive midfielder Jefferson Lerma for a club-record fee. His agent Christophe Henrotay had revealed that he had told Chelsea that Courtois wanted to go to Real Madrid .

West Nile virus-infected mosquitoes found in 19 towns
Do not apply under clothing, to wounds or irritated skin, the hands of children, or to infants less than two months old. Allegheny County and the state's first and now only human West Nile case was confirmed last Friday in a Penn Hills man.

Hundreds evacuated in Virginia after dam overflows
College Lake is a manmade lake, built in the early 1930s by the Virginia Department of Highways as part of the development of U.S. A dire warning from the National Weather Service has forced an evacuation around the College Lake Dam in Lynchburg, Virginia .